Stop Chasing Leads | How to Create Demand for Your Business
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How does Brad define the difference between leads and demand?
I wanted you to ask yourself one question. What could we do to become more desirable rather than simply more visible? The businesses that win aren't the ones with the most leads, they're the ones customers want most. Revenue can disappear, demand though, it's much harder to replace. Do customers ask for you by name? You know, most business owners wake up every day asking the wrong question. They ask, how do I get more leads? The world's most valuable businesses don't ask that. They ask, how do I create more demand? There's a massive difference. One creates activity. The other creates value. Demand versus supply is something we all learn in business school, right? The challenge is most businesses become supply focused rather than demand focused.
So one way of looking at business getting more leads that creates work the demand creates more leverage one fills a pipeline the other builds a market and a marketplace so today we're going to explore why most businesses are obsessed with lead generation versus elite businesses where they're focused on demand creation and that's distinction is probably worth millions to you okay So I go back to examples of companies that create demand. It's like there's a generational branding. There's a generational feel of, I want to buy that product. I want to own that brand. I want to own that so that later in life, further down the road, that demand is there and there's a pent up demand for it. And going back a couple of weeks, if you look at it, we start thinking about having
too much demand in some cases. So the lead generation trap, let's start there because this is what most businesses do. They buy ads, they'll buy lists, they'll run promos, promotions, they'll offer discounts even, they'll chase prospects, they're in the let's book appointments, they generate leads. And then they wonder why growth feels like hard work because lead generation without demand creation becomes a treadmill. If you think about demand creation, it's what comes before the lead generation. If you're stuck in the lead generation trap, you have to keep running, you have to keep spending, you have to keep chasing. The moment you stop, everything slows down. That's the lead generation trap. And that's not leverage.
That's not, you know, I guess it's dependency if we really think about it. That's what we're creating with the whole lead gen thing. And I know in my previous businesses, dang, I made it hard for myself because if I wasn't generating leads every day, there was no demand for it. So let's think about what is a lead, okay? A lead is simply someone who may buy, a prospect, a potential customer. And that's very different. A lead is not demand. A lead is not trust. A lead is not loyalty. A lead is not desire, okay? If we want to break it right down, a lead is simply a name. A lead is simply a phone number, an email address. We're not thinking about demand. I want to make sure we understand there is a distinction.
The lead might just be a possibility, if that makes sense. Most businesses celebrate leads. In an elite business, you celebrate demand creation. And that's where you think about brands that have created demand rather than leads.
What is the 'lead generation trap' and why does it create dependency?
They have a desire. People put them on dream charts sort of thing. People know that one day they want it. Now, not everything in your business can be about demand all the time. So what is demand? All right, let's define it so that we can move through and understand the distinction between the two of these things. Demand is when people want what you have, okay? And I use the term marketability in here because marketability is the product or service sells itself or someone else wants your product or service sold more than you do. Demand is when customers seek you out. Demand is when people ask for you by name. Demand is when they're willing to wait for you or wait for it. Demand is when people recommend you.
They refer you. They note you. They talk about you. You think about it. Demand is when people talk about you on social media. Demand is when people are shouting out to the world.
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